Financials · financial year 2025, micro format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 13 filings
Equity
€231,047▲ 6.2%
2024 · €217,552
Net result
€13,495▲ 0.8%
2024 · €13,384
Total assets
€434,918▲ 3.6%
2024 · €419,770
Solvency
53.1%▲ 1.3pp
2024 · 51.8%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€24,417
▼ 7.8%
2025
20182025
Net result
€13,495
▲ 0.8%
2025
middle half of the sector
20182025
Equity
€231,047
▲ 6.2%
2025
middle half of the sector
20182025
Total assets
€434,918
▲ 3.6%
2025
middle half of the sector
20182025
Debt
€203,872
▲ 0.8%
2025
20182025
Working capital
-€158,953
▲ 7.8%
2025
lowest quarter of the sector
20182025
Solvency
53.1%
▲ 1.3pp
2025
middle half of the sector
20182025
Current ratio
0.22
▲ 0.07
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
3.1%
▼ 0.1pp
2025
middle half of the sector
20182025
Staff (FTE)
1
=
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€24,744-€27,959▲ 13.0%€21,145▼ 24.4%€9,333▼ 55.9%€16,830▲ 80.3%-€5,613€26,495€24,417▼ 7.8%
Net result€14,877-€18,012▲ 21.1%€15,272within the sector's middle half▼ 15.2%€6,918within the sector's middle half▼ 54.7%€12,272within the sector's middle half▲ 77.4%-€5,801below the sector's middle half€13,384within the sector's middle half€13,495within the sector's middle half▲ 0.8%
Equity€157,495-€175,507▲ 11.4%€190,779within the sector's middle half▲ 8.7%€197,696within the sector's middle half▲ 3.6%€209,968within the sector's middle half▲ 6.2%€204,168within the sector's middle half▼ 2.8%€217,552within the sector's middle half▲ 6.6%€231,047within the sector's middle half▲ 6.2%
Total assets€396,179-€400,913▲ 1.2%€390,156below the sector's middle half▼ 2.7%€395,805below the sector's middle half▲ 1.4%€403,397below the sector's middle half▲ 1.9%€407,270within the sector's middle half▲ 1.0%€419,770within the sector's middle half▲ 3.1%€434,918within the sector's middle half▲ 3.6%
Debt€238,685-€225,406▼ 5.6%€199,377▼ 11.5%€198,108▼ 0.6%€193,429▼ 2.4%€203,103▲ 5.0%€202,218▼ 0.4%€203,872▲ 0.8%
Working capital-€215,489--€214,493▲ 0.5%-€199,221below the sector's middle half▲ 7.1%-€192,304below the sector's middle half▲ 3.5%-€180,032below the sector's middle half▲ 6.4%-€185,832below the sector's middle half▼ 3.2%-€172,449below the sector's middle half▲ 7.2%-€158,953below the sector's middle half▲ 7.8%
Solvency39.8%-43.8%▲ 4.0pp48.9%within the sector's middle half▲ 5.1pp49.9%within the sector's middle half▲ 1.0pp52.1%within the sector's middle half▲ 2.1pp50.1%within the sector's middle half▼ 1.9pp51.8%within the sector's middle half▲ 1.7pp53.1%within the sector's middle half▲ 1.3pp
Current ratio0.03-0.05▲ 0.020.00below the sector's middle half▼ 0.050.03below the sector's middle half▲ 0.030.07below the sector's middle half▲ 0.040.09below the sector's middle half▲ 0.020.15below the sector's middle half▲ 0.060.22below the sector's middle half▲ 0.07
Return on assets (ROA)3.8%-4.5%▲ 0.7pp3.9%within the sector's middle half▼ 0.6pp1.7%within the sector's middle half▼ 2.2pp3.0%within the sector's middle half▲ 1.3pp-1.4%below the sector's middle half▼ 4.5pp3.2%within the sector's middle half▲ 4.6pp3.1%within the sector's middle half▼ 0.1pp
Staff (FTE)0.9-0.9=0.9below the sector's middle half=0.9within the sector's middle half=1within the sector's middle half▲ 11.1%1=1=1=
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 8% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €434,918
Fixed assets
€390,000 =
Current assets
€44,918 ▲ 50.9%
Equity and liabilities €434,918
Equity
€231,047 ▲ 6.2%
Debt
€203,872 ▲ 0.8%
Debt's share of the balance-sheet total falls from 48.2% to 46.9%. Equity and debt are higher.
Key figures and ratios
ROE
5.8%▼
2024 · 6.2%
Debt ≤ 1 year
€203,872▲
2024 · €202,218
Income taxes
€6,501▲
2024 · €4,175
Staff costs
€41,560▼
2024 · €50,261
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | - | 1 | 1 |
| full-time | 0 | 0 | - | 0 | 0 |
| part-time | 1 | 1 | - | 1 | 1 |
| in full-time equivalents | 0.9 | 0.9 | - | 0.5 | 0.5 |
| Average over the year, in full-time equivalents | 0.9 | 1 | 1 | 0.7 | 0.5 |
| On a permanent contract | 1 | 1 | - | 1 | 1 |
| Joined | - | - | - | 0 | - |
| Left | - | - | - | 0 | - |
| Training hours | - | - | - | 0 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €54,378 | €56,824 | €64,377 | €50,261 | €41,560 | ▼ 17.3% |
| Other operating charges640/8 | - | - | - | €410 | €410 | €549 | €716 | €462 | ▼ 35.5% |
| Gross operating margin9900 | €77,169 | €81,613 | €75,266 | €64,120 | €74,064 | €59,313 | €77,472 | €66,439 | ▼ 14.2% |
| Operating profit (loss)9901 | €24,744 | €27,959 | €21,145 | €9,333 | €16,830 | -€5,613 | €26,495 | €24,417 | ▼ 7.8% |
| Financial charges65/66B | - | - | - | €26 | €307 | €187 | €8,936 | €4,421 | ▼ 50.5% |
| Recurring financial charges65 | €2,886 | €1,519 | €223 | €26 | €307 | €187 | €8,936 | €4,421 | ▼ 50.5% |
| Profit (loss) for the period before taxes9903 | €21,858 | €26,440 | €20,922 | €9,307 | €16,523 | -€5,801 | €17,559 | €19,996 | ▲ 13.9% |
| Income taxes67/77 | €6,981 | €8,428 | €5,650 | €2,389 | €4,251 | €0 | €4,175 | €6,501 | ▲ 55.7% |
| Profit (loss) for the period9904 | €14,877 | €18,012 | €15,272 | €6,918 | €12,272 | -€5,801 | €13,384 | €13,495 | ▲ 0.8% |
| Profit (loss) for the period to be appropriated9905 | €14,877 | €18,012 | €15,272 | €6,918 | €12,272 | -€5,801 | €13,384 | €13,495 | ▲ 0.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €396,179 | €400,913 | €390,156 | €395,805 | €403,397 | €407,270 | €419,770 | €434,918 | ▲ 3.6% |
| Fixed assets21/28 | €390,000 | €390,000 | €390,000 | €390,000 | €390,000 | €390,000 | €390,000 | €390,000 | = |
| Financial fixed assets28 | €390,000 | €390,000 | €390,000 | €390,000 | €390,000 | €390,000 | €390,000 | €390,000 | = |
| Current assets29/58 | €6,179 | €10,913 | €156 | €5,805 | €13,397 | €17,270 | €29,770 | €44,918 | ▲ 50.9% |
| Amounts receivable within one year40/41 | - | - | - | €2,611 | €12,629 | €5,000 | €18,975 | €18,975 | = |
| Trade receivables40 | - | - | - | - | €11,880 | €0 | €18,150 | €18,150 | = |
| Other amounts receivable41 | - | - | - | €2,611 | €749 | €5,000 | €825 | €825 | = |
| Cash at bank and in hand54/58 | €6,179 | €8,458 | €156 | €3,194 | €769 | €12,270 | €10,795 | €25,944 | ▲ 140% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €396,179 | €400,913 | €390,156 | €395,805 | €403,397 | €407,270 | €419,770 | €434,918 | ▲ 3.6% |
| Equity10/15 | €157,495 | €175,507 | €190,779 | €197,696 | €209,968 | €204,168 | €217,552 | €231,047 | ▲ 6.2% |
| Contributions10/11 | €50,000 | €50,000 | - | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Reserves13 | €107,495 | €125,507 | €140,779 | €147,696 | €159,968 | €154,168 | €167,552 | €181,047 | ▲ 8.1% |
| Non-distributable reserves130/1 | - | - | - | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves not available under the articles1311 | - | - | - | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Distributable reserves133 | - | - | - | €142,696 | €154,968 | €149,168 | €162,552 | €176,047 | ▲ 8.3% |
| Amounts payable17/49 | €238,685 | €225,406 | €199,377 | €198,108 | €193,429 | €203,103 | €202,218 | €203,872 | ▲ 0.8% |
| Amounts payable after more than one year17 | €17,016 | €0 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €221,669 | €225,406 | €199,377 | €198,108 | €193,429 | €203,103 | €202,218 | €203,872 | ▲ 0.8% |
| Financial debts43 | - | - | - | €4,178 | €4,182 | €4,188 | €4,186 | €4,163 | ▼ 0.5% |
| Credit institutions430/8 | - | - | - | €4,178 | €4,182 | €4,188 | €4,186 | €4,163 | ▼ 0.5% |
| Trade debts44 | €17,124 | €19,046 | €4,617 | €4,707 | €6,063 | €312 | €1,002 | €10,483 | ▲ 946% |
| Suppliers440/4 | - | - | - | €4,707 | €6,063 | €312 | €1,002 | €10,483 | ▲ 946% |
| Taxes, remuneration and social security45 | - | - | - | €24,437 | €19,133 | €28,198 | €38,687 | €28,999 | ▼ 25.0% |
| Taxes450/3 | - | - | - | €11,955 | €6,305 | €10,981 | €22,937 | €13,492 | ▼ 41.2% |
| Remuneration and social security454/9 | - | - | - | €12,482 | €12,829 | €17,217 | €15,750 | €15,507 | ▼ 1.5% |
| Other amounts payable47/48 | - | - | - | €164,786 | €164,050 | €170,405 | €158,343 | €160,227 | ▲ 1.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,877 | €18,012 | €15,272 | €6,918 | €12,272 | -€5,801 | €13,384 | €13,495 | ▲ 0.8% |
| Operating cash flow (approximation) | €14,877 | €18,012 | €15,272 | €6,918 | €12,272 | -€5,801 | €13,384 | €13,495 | ▲ 0.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €2,279 | -€8,303 | €3,038 | -€2,425 | €11,502 | -€1,476 | €15,149 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-07-2026 | 2026-00266332 | |
| 31-12-2024 | micro format | 24-09-2025 | 2025-00500878 | |
| 31-12-2023 | micro format | 22-07-2024 | 2024-00270636 | |
| 31-12-2022 | abbreviated format | 26-06-2023 | 2023-00157459 | |
| 31-12-2021 | abbreviated format | 30-08-2022 | 2022-20366631 | |
| 31-12-2020 | abbreviated format | 08-07-2021 | 2021-32600478 | |
| 31-12-2019 | abbreviated format | 30-09-2020 | 2020-57100315 | |
| 31-12-2018 | abbreviated format | 26-09-2019 | 2019-66200367 | |
| 31-12-2017 | abbreviated format | 30-08-2018 | 2018-58300265 | |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-56000451 |